Sensex rises 43 points; Tata Power, RIL and SBI lead gainers

Mumbai: The BSE benchmark Sensex on Tuesday closed 3 points higher on the back of buying in Tata Power, RIL and SBI amid a firming European trend.

The Sensex, which moved between 19,373.94 and 19,263.71, closed higher by 42.80 points, or 0.22 percent to 19,348.12.

The broad-based National Stock Exchange index Nifty edged up by 18.30 points, or 0.31 percent to 5,889.25.

Brokers said investors bought RIL shares on media reports that the oil ministry may approve its investment plans for the KG-D6 block while bank shares like SBI and ICICI Bank gained on hopes of rate cut by RBI soon. Tata Power rose 4 per cent.

In the 30-share Sensex, 11 stocks gained while 19 including TCS, M&M and ITC ended in negative zone.

Market participants mostly remained on the sidelines ahead of the discussion on FDI in retail.

The BSE Oil and Gas sector index gained the most followed by the realty sector.

"The banking sector today saw revival from lower levels and was up by 0.75 percent. Consumer Durables was down by 0.72 percent due to profit-booking. IT and Auto were also marginally in negative," said Nidhi Sarswat, Senior Research Analyst, Bonanza Portfolio Ltd.

The positive domestic sentiment was aided by the firming trend in European region, said traders.